News & Analysis as of

Securities and Exchange Commission (SEC) Enforcement Actions Asset Freeze

BakerHostetler

US Firms Launch Bitcoin Products, Seek Approvals; Federal and State Agencies Take Enforcement Actions Against Cryptocurrency...

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US Firms Launch Bitcoin Products, Seek Approvals, Advocate for Crypto Rules - According to reports, in an internal memorandum issued earlier this week, a major U.S. investment bank informed its financial advisers that it is...more

Polsinelli

Modern Times - SEC Moves to Freeze Assets of Alleged $12M Crypto Investment Scam

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The U.S. Securities Exchange Commission (SEC) is asking a court to freeze the assets of a cryptocurrency mining and multilevel marketing scheme that allegedly defrauded investors of $12 million. The SEC's complaint alleges...more

Polsinelli

il Grande Vecchio Would Be Mortified - Fraudsters Use Digital Asset Scam to Buy a Ferrari

Polsinelli on

Enzo Ferrari, the founder of Scuderia Ferrari Grand Prix motor racing team and the Ferrari motor company, would be mortified to know that a group of fraudsters used a digital asset scam to buy one of the masterpieces of...more

Hogan Lovells

U.S. SEC takes emergency action against former state senator to halt digital asset scam

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The U.S. Securities and Exchange Commission (SEC) has obtained an asset freeze and other emergency relief to stop an alleged securities fraud by former Washington state senator David Schmidt and two others, who dishonestly...more

Perkins Coie

Blockchain Week in Review - August 2019 #3

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U.S. Developments - Veritaseum Founder Provides Response to Asset Freeze Order - Responding to an emergency application filed by the Securities and Exchange Commission, Judge LaShann DeArcy Hall of the United States...more

Katten Muchin Rosenman LLP

Bridging the Weeks - August 2018 #3

The Securities and Exchange Commission banned the founder of a company that it claimed was involved in an illicit initial coin offering of a new digital token from ever serving as an officer or a director of a publicly-traded...more

Robins Kaplan LLP

Your Daily Dose of Financial News

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After more than 110 years as one of its mainstays, General Electric is out of the Dow Jones Industrial Average. It will be replaced by drugstore retailer Walgreens Boots Alliance....more

Robins Kaplan LLP

Your Daily Dose of Financial News

Robins Kaplan LLP on

Some analysis of Friday’s less-than-booming jobs report – NYTimes and Bloomberg And a look at Fed Chair Powell’s first major remarks on the state of the economy and the potential effects a trade war would have on the Fed’s...more

Perkins Coie

CFTC Flexes Its Regulatory Muscle in a Case Involving a Virtual Currency

Perkins Coie on

Just like the Securities and Exchange Commission (SEC), the Commodity Futures Trading Commission (CFTC) is actively policing the virtual currency market. On January 24, 2018, the CFTC announced an enforcement action against...more

Perkins Coie

SEC Files Emergency Action to Halt Alleged ICO Scam

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On Friday, December 1, 2017, the SEC filed an emergency action in federal district court in Brooklyn alleging that Dominic Lacroix and Sabrina Paradis-Roger, both from Quebec, Canada, raised approximately $15 million in a...more

Dechert LLP

SEC Enforcement Division Releases 2017 Annual Report as Industry Looks Ahead to 2018

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Stephanie Avakian and Steven Peikin, the new Co-Directors of the U.S. SEC Enforcement Division (“Division”), released a report on November 15, 2017, summarizing the Division’s enforcement activity for the fiscal year ending...more

Mintz - EB-5 Financing Viewpoints

“The cold never bothered me anyway!” SEC again uses its power to freeze an alleged EB-5 scam

Like Elsa, the Princess in Disney’s classic Frozen, once again the Securities and Exchange Commission (SEC) has utilized its power to freeze. In this case, the freezing of assets. In what has become an increasingly common...more

Jones Day

SEC Brings First Enforcement Action Related to Initial Coin Offerings

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The Situation: Promoters of two recent initial coin offerings face charges of investor fraud brought by the SEC, after allegedly misrepresenting the assets purportedly backing the offerings, exaggerating the amount of funds...more

Perkins Coie

SEC and U.S. Attorney’s Office Bring Action Against Promoter of Bitcoin Store, Inc.

Perkins Coie on

On June 30, 2017, the SEC and the U.S. Attorney brought parallel civil and criminal fraud charges against Renwick Haddow, the owner of an unregistered broker-dealer entity named InCrowd Equity Inc., and two corporate entities...more

Dorsey & Whitney LLP

SEC Files Suspicious Trading Case

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The SEC filed another “suspicious trading” insider trading action, naming as defendants two Chinese nationals. The action was brought just days after the second deal closed, permitting a freeze order to be entered over the...more

Morrison & Foerster LLP

Top Ten International Anti-Corruption Developments for April 2015

1. Criminal Division AAG Promises Increased Transparency in Corporate Charging Decisions. In an April 17, 2015 speech at New York University Law School’s Program on Corporate Compliance and Enforcement, Leslie Caldwell,...more

Dorsey & Whitney LLP

SEC Halts Fraudulent Farm Loan Investment Program

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The Commission initiated an action centered on the misuse of offering proceeds tied to farm loans. The defendants include an investment adviser, a financial planner and an attorney. SEC v. Veros Partners, Inc., Civil Action...more

Dorsey & Whitney LLP

SEC Obtains Freeze Order Over Transfer Agent

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Transfer agents perform critical services for issuers and shareholders. The duties of those agents include maintaining the issuer’s security holder records, the issuance and cancellation of certificates and the distribution...more

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